A US woman who shot and killed her husband and two adult children before taking her own life is thought to have committed the shocking crime as a result of being ostracised from the religion she was raised in.

A federal judge sentenced a former Arkansas judge Wednesday to five years in prison — a stiffer punishment than prosecutors recommended — after he admitted giving young male defendants lighter sentences in return for personal benefits that included sexual favours.

Every time I tell a mate I’m doing a story on cryptocurrency, they invariably ask me the same two questions: should they invest their own hard-earned money, and which cryptocurrency will get them a Lamborghini/yacht/island quickest?

In a 60 Minutes online exclusive, reporter Liz Hayes quizzed Australian Prime Minister Malcolm Turnbull on his relationship with the unpredictable Twitter aficionado and US president Donald Trump ahead of their meeting at the White House Friday.

Hockey sees sub-trend growth for some time

Federal Treasurer Joe Hockey has warned that the Australian economy is likely to continue to grow below trend for some time.

Australia's failure to embrace reform had, he said, led to a deterioration in productivity "over and above" the dampening impact of the fading mining investment boom.

"Further structural reform is needed to lift the underlying potential of our economy," Mr Hockey told the American Australian Association in New York.

While he was encouraged by a rebound in business confidence following last month's election of the coalition government, he added that "we are mindful that decisive action is required to build on these positive signs".

New figures released on Wednesday show the economy has lost momentum since the start of this year.

The annualised growth rate of the Westpac-Melbourne Institute leading index, which indicates the likely pace of economic activity in three to nine months, was 3.2 per cent in August.

This is above the long-term trend of 2.9 per cent but a fall from 4.4 per cent in March.

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"The loss of momentum ... suggests the (Reserve Bank of Australia's) 25 basis-point rate cut in August was a timely shot in the arm for growth," Westpac chief economist Bill Evans said.

"We expect further boosts will be required to support momentum through the difficult transition from mining to non-mining led growth."

Westpac is forecasting economic growth of 2.5 per cent in 2013 and 2.3 per cent in 2014, well below the national trend rate of about 3.25 per cent.

Westpac said the current political impasse over raising the US debt ceiling by October 17 poses significant threats to both US and world growth, with a default potentially sending a "financial shockwave" through global markets.

Global credit rating agency Fitch put the world's largest economy on notice that it could lose its AAA rating.

Mr Hockey said restoring fiscal sustainability is a high priority for the coalition government to make the economy more resilient against inevitable future shocks.

He intends to release his first mid-year budget review before Christmas, and not in January as previously flagged.

The government is determined to return to surplus and will deliver a taxation reform agenda that it will ask Australians to endorse at the next election, Mr Hockey said.

While BDO national tax director Lance Cunningham approved of the commitment to tax reform, he was concerned the government has chosen to delay implementation until after 2016, describing it as a "significant delay".

"The Henry report was delivered over three years ago ... it has done much of the background research required for implementing tax reform," he said in a statement.